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Higher+costs+hit+%27Google%27+owner
Saturday, 03 February 2018 - 13:25
Higher costs hit 'Google' owner
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Google's parent company Alphabet saw lower than expected profits in the last three months of 2017 after higher costs offset a big jump in advertising sales.

The tech giant made quarterly profits of $6.8 billion (£4.8bn), missing the $7 billion analysts had predicted.

Revenue jumped by 24% to $32.3 billion helped by adverts sold on its search engine, websites and apps.

But overall expenses climbed as Alphabet spent money on diversifying beyond its core search business.

This included investment in YouTube content, in an attempt to make the service more attractive to advertisers.

Alphabet shares fell more than 5% in after-hours trade, before paring those losses.

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